Atlas Financial Holdings 2012 Premium Guidance

January 17, 2013 09:41 PM Eastern Standard Time

CHICAGO--(BUSINESS WIRE)--Atlas Financial Holdings, Inc. (TSX.V: AFH) (“Atlas” or the
“Company”) today provided guidance regarding fourth quarter and full
year 2012 premium for its operating subsidiaries American Country
Insurance Company and American Service Insurance Company, Inc.

Gross premium written for the three months ended December 31, 2012 is
expected to be approximately $10.7 million, representing a 17.8%
increase relative to the three month period ended December 31, 2011. The
expected increase in our gross premium written as compared to the prior
year is primarily attributable to an increase in our commercial auto
gross premium written as a result of the strategic focus on these core
lines of business, coupled with our recent geographic expansion and
positive response from new and existing agents. Gross premium written
related to our core commercial automobile line of business is expected
to be approximately $9.5 million for the three month period ended
December 31, 2012, representing a 121.7% increase relative to the three
month period ended December 31, 2011. Gross premium written for the
three months ended December 31, 2012 is expected to be 54.2% less than
the prior quarter due to the seasonal nature of our business.

Net premium earned for the three months ended December 31, 2012 is
expected to be approximately $11.9 million, representing a 31.2%
increase relative to the three month period ended December 31, 2011 and
a 9.0% increase relative to the prior quarter. The expected increase in
net premium earned is related primarily to the increase in commercial
auto gross premium written during 2012.

For the full year, gross premium written is expected to be approximately
$55.0 million, up from $42.0 million in 2011, and net premium earned is
expected to be approximately $38.7 million, up from $35.7 million in
2011. We expect our core commercial automobile lines of business will
account for 91.8% of gross premium written in 2012, compared to 44.7% of
our gross premium written in 2011. In 2012, the gross premium written
from our core commercial automobile lines is expected to increase by
169.0% relative to 2011.

We have not yet finalized our financial statement close process for the
three month period ended December 31, 2012 and our independent auditors
have not yet completed their year-end audit. The financial data for the
three month period ended December 31, 2012 presented herein are
preliminary, based upon our estimates and subject to the completion of
our financial statement close process and year-end audit. This summary
is not a comprehensive statement of our financial results for this
period. Important factors that could cause actual results to differ
materially from our preliminary estimates are set forth under the
headings “Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements.”

About Atlas Financial Holdings, Inc.

The primary business of Atlas is commercial automobile insurance in the
United States, with a niche market orientation and focus on insurance
for the "light" commercial automobile sector including taxi cabs,
non-emergency paratransit, limousine/livery and business auto. The
business of Atlas is carried on through its insurance subsidiaries
American Country Insurance Company and American Service Insurance
Company, Inc. Effective January 1, 2013, Atlas acquired a third
operating insurance subsidiary, Gateway Insurance Company. Atlas’
insurance subsidiaries have decades of experience with a commitment to
being an industry leader in these specialized areas of insurance.

Forward-looking Statements

This release includes forward-looking statements regarding Atlas and its
insurance subsidiaries and businesses. Such statements are based on the
current expectations of the management of each entity. The words
"anticipate", "expect", "believe", "may", "should", "estimate",
"project", "outlook", "forecast" or similar words are used to identify
such forward looking information. The forward-looking events and
circumstances discussed in this release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the Companies, including risks regarding the
insurance industry, economic factors and the equity markets generally
and the risk factors discussed in the "Risk Factors" section of the
Company's Form 10-K for the year ended December 31, 2011 . No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and Atlas and its subsidiaries undertake
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events, or
otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.